Listed by Marcus & Millichap - San Diego
$1,800,000
NATIONAL VETERINARY ASSOCIATES CLINIC | NN LEASE
Details
APN 22514170C
Property Type Retail, Office
Sub Type Storefront, Medical Office
Square Footage 2,520
Units 1
Cap Rate 6.76%
NOI $121,727
Tenancy Single
Lease Type NN
Lease Expiration 08/30/2035
Remaining Term 9.1
Rent Bumps Yes
Class A
Year Built 2002
Stories 1
Lot Size (SqFt) 0.56
Ground Lease No
Office | 6.76% CAP | 2,520 SqFt
Marketing description
PLEASE VISIT THE PROPERTY WEBSITE TO DOWNLOAD FULL MARKETING PACKAGE:
https://themansourgroup.com/properties/310505/national-veterinary-associates-vet-clinic
Investment highlights
- Corporate Backed Lease Featuring 2% Annual Rental Increases Throughout the Initial Term and Options. 23+ Year Historical Occupancy with Multiple Lease Extensions.
- High Traffic Arterial Access via Oracle Road – Positioned Just Off Oracle Road (State Route 77), a Major Arterial with Over 42k VPD, providing Excellent Signage Exposure and Convenient Access.
- Located w/in one of the Region’s most Established and Economically Vibrant Commercial and Healthcare Corridors.
- Strong Guarantee - Lease is backed by National Veterinary Associates (NVA), which was purchased by JAB Holding, Co. It is Majority-owned by the Reimann Family, one of the Wealthiest in the World and estimated to have a Net Worth of $20 Billion, according to Forbes. The National Veterinary Associates (NVA) is One of the Largest Veterinary and Pet Care Service Providers in the World with 1,500+ Vet Clinics, Animal Hospitals, and Pet Resorts and $6 Billion in Revenue.
- Established Medical-Veterinary Corridor – Surrounded by Dozens of Medical and Professional Service Providers including Dental, Dermatology, and Urgent Care Centers – Creating Strong Synergy for Cross-Referrals and Pet Owner Convenience.
- Located in a Densely Populated and High-Income Trade Area – with an Average Household Income Exceeding $109k within a 3-Mile Radius, and more than 139k People Residing within a 5-Mile Radius.
- Surrounded by Multifamily and Residential Growth – Adjacent to Numerous Apartment Complexes, Townhomes, and Single-Family Communities in Development or Expansion – Ensuring a Consistent Influx of Pet-Owning Households.
- Strong Veterinary Market Fundamentals – Pet Ownership in the U.S. Continues to Grow, with Arizona Ranked Among the Top 10 States for Pet Ownership – providing Long-Term Demand Tailwinds for Animal Health Facilities. Service-Based, Internet Resistant, and Recession-Proof Investment Poised for Long-Term Success. Healthcare and Veterinary Related Real Estate has been the Least Affected by Economic Recession.
Listing Contacts
Listed by Marcus & Millichap - San Diego
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$121,727.00
$10,143.92/mo
Valuation Metrics
0
DSCR
6.76%
Cap Rate
6.76%
ROI
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